Let's Not Forget The Role Of Master Data Management Stakeholders
As defined by well-known internet search engine Wikipedia, "In business, master data management (MDM) comprises the processes, governance, policies, standards and tools that consistently define and manage the critical data of an organization to provide a single point of reference . " Though the definition covers the major elements of the term MDM, it fails to provide a complete gist of what the process is entirely capable of achieving. This is because MDM is a constantly evolving process. The more you explore and experiment, the more you discover.
Businesses know how influential an MDM process can prove to be. They introduce master data management solutions in the organisation, in order to experience all-round success and to support the ultimate goal of the firm. As simple as these solutions may appear, they come with their own set of complex features that, when understood and worked with 'in-depth', provide a clear image of what the business can accomplish. A number of people play the role of stakeholders, from the inception stage through the process of on-going maintenance. Their roles in the process simply can not and must not be ignored.
Some of the major stakeholders in the process include the application owners, information architects, meta-data analysts, executive management, data governance team and system developers. However, the list simply does not end there. There are many other professionals who work with these major stakeholders in determining the course of the MDM process and other inter-linked processes such as data quality management. Then, there are a few data specialists who understand the needs, demands and expectations of the organisation and together, navigate the process towards total success and productivity.
Amongst the long list of stakeholders, it is the senior level executives who often, take the most important decisions that affect the steady growth and progress of the business in the long run. They work with vendors and their master data management solutions to convert the pre-existing business data into useful, knowledgeable and influential business information. The managers in charge of these executives should work hard towards educating and encouraging them in timely execution of the MDM implementation. This will lead to successful functioning of all MDM systems present across the organisation.
Moreover, it is also essential to work with application owners and system developers. Show them the flow of strategy and convince them of its potential to successfully implement the same. Do not forget to consider the views of business clients, who also function as indirect partners in the process. Successful MDM implementation depends on the combined efforts of all stakeholders – both direct and indirect.